Does the market recognize corporate social responsibility?

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Juan Camilo Sanchez-Lopez
https://orcid.org/0000-0002-1834-9249
Jesús María Godoy Bejarano
https://orcid.org/0000-0002-9234-6855

Abstract

This paper examines the impact on the market value from novelties in Dow Jones Sustainability Index (DJSI) that is prepared annually by RobecoSAM. Based on the analysis of 77 events of 13 Colombian companies in the period 2009-2018, it shows that DJSI-related events generate insignificant abnormal returns to shareholders, and it proposes as an explanation the exiguous disclosure effort by Colombian companies of this type of events.

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How to Cite
SANCHEZ-LOPEZ, J. C.; GODOY BEJARANO, J. M. . Does the market recognize corporate social responsibility? . RAE - Revista de Administracao de Empresas , [S. l.], v. 62, n. 2, p. 1–16, 2022. DOI: 10.1590/S0034-759020220205. Disponível em: https://periodicos.fgv.br/rae/article/view/85707. Acesso em: 14 apr. 2024.
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